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The Fed could be a source of market volatility as Powell and others speak in the week ahead

Written on . Posted in PT Global Economy.

CNBC:

  • Fed Chairman Jerome Powell testifies before Congress twice this week, and a dozen other Fed speeches are slated for next week.
  • Personal consumption expenditures inflation data will be released at the end of the week. It’s important as the market is focused on inflation and contending with the Fed’s willingness to let it run.
  • The direction of bond yields could continue to drive stocks, after the 10-year reached a high of 1.75% this past week, its highest in 14 months. Read More

New questions about Biden’s physical and mental health ignored by the press

Written on . Posted in PT World Order.

New York Press: The national media were ready to have a 25th Amendment party when a sloppy book by Michael Wolff came out with a bunch of ditzy rumors about President Trump’s mental acuity.

By contrast, we just watched the current president literally collapse and there’s not a peep of concern from the press.

Joe Biden on Friday was climbing up to board Air Force One when, even with his hand on the rail for support, he tripped over one of the steps. He pushed himself up only to see the same thing happen a second time. Finally, gravity got the best of his 78-year-old ankles and he fell to his knees.

Biden eventually got up and made the rest of the journey to the cabin, but are we all going to pretend that we weren’t feeling the urge to rush to his side like a Boy Scout offering his arm to an elderly.

One of Biden’s press secretaries was sure to tell reporters that it was very windy outside during Biden’s adventure up the steps.

Is no one in the major news media concerned?

It would be easier to overlook the incident if it didn’t come in addition to a slew of other episodes with Biden.

https://twitter.com/i/status/1372641119222239233

On Thursday, he referred to Kamala Harris as “President Harris.” Back in December, before he was sworn in as the real president, Biden called Harris “president-elect.”

Things Are Out Of Control” – There Is A Shortage Of Everything And Prices Are Soaring: What Happens Next

Written on . Posted in PT Global Economy.

Zero Hedge: In Wednesday’s press conference, Jay Powell confirmed that the Fed is setting off on a historic experiment: welcoming a conflagration of red-hot inflation for an indefinite period of time in an overheating economy, with the underlying assumption that it’s all “transitory” and that inflation will return to normal in a few years, and certainly before 2023 when the Fed’s rates will still be at zero.

“When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand.” Revelation 6:5-6 NKJV

There is a big problem with that assumption: while FOMC members, most of whom are independently wealthy and can just charge their Fed card for any day to day purchases of “non-core” CPI basket items, the vast majority of the population does not have the luxury of having someone else pay for their purchases or looking beyond the current period of runaway inflation, which will certainly crush the purchasing power of the American consumer, especially once producers of intermediate goods start hiking prices even more and passing through inflation.

Many readers may not recall, but one such instance of “transitory” inflation that proved to be anything but and led to the infamous Volcker Fed and its double digit rate hikes, was the price of oil which took off in the Arab oil embargo and then refused to come back for over a decade.

The Powell Fed, however, is eager to brush aside any analogues to previous episodes of runaway inflation which it sees as having a demand component, and merely ascribes what is taking place to unprecedented supply chain disruptions – i.e., collapse in supply – as a result of both the trade war with China and, more recently, the covid pandemic, which have unleashed chaos among traditional supply-chain intermediaries.

To be sure, the Fed is certainly right that there has been turmoil within virtually all supply chains: one needs to only read what the respondents to the most recent mfg ISM said to get a sense of how bad it truly is:

  • “Things are now out of control. Everything is a mess, and we are seeing wide-scale shortages.” (Electrical Equipment, Appliances & Components)

Bill Gates gets $7.5B donation from American taxpayers during pandemic

Written on . Posted in PT World Order.

Natural News: Buried deep in the $1.9 trillion coronavirus relief package signed by President Joe Biden on Thursday, March 11, is a provision to provide a $3.5 billion giveaway to Bill Gates’ Global Fund to Fight AIDS, Tuberculosis and Malaria.

“As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy.” Timothy 6:17 ESV

The organization, simply known as the Global Fund, is an international financing and partnership organization with Gates being one of the first donors to provide seed money. 1

“I believe this is – and most people I think do as well – this historic legislation is about rebuilding the backbone of this country and giving people in this nation, working people, the middle-class folks, people who built the country, a fighting chance,” Biden said as he signed the bill exactly a year after the World Health Organization (WHO) declared a pandemic.

Image: Bill Gates gets $7.5B donation from American taxpayers during pandemic

With a net worth of $126 billion, Gates doesn’t fit the profile of a middle-class folk.

The provision found on page 613 of the package stated: “$3,750,000,000 to be made available to the Department of State to support programs for the prevention, treatment and control of HIV/AIDS in order to prevent, prepare for and respond to coronavirus, including to mitigate the impact on such programs, of which not less than $3,500,000,000 shall be for a United States contribution to the Global Fund to Fight AIDS, Tuberculosis and Malaria.”

Critics may point out that most of the Global Fund’s projects are international, which defeats the purpose of the package known as the American Rescue Plan. Read More

COVID-19 vaccination passports to open economies

Written on . Posted in PT Global Economy.

Science: As countries grow eager to reignite their economies and people increasingly yearn for mobility and normalcy in life, pressure is mounting for some form of COVID-19 health status certificate that would support these desires. There has already been an explosion of COVID-19 passport initiatives for domestic use and international travel. But scientific, legal, and ethical concerns abound with such documentation. Given the high stakes, what is the path forward?

“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads.” Revelation 13:16 KJV

From doctors’ examinations to ship inspections, clean bills of health have secured passage through centuries of human plagues. Today’s best-known health passport is the International Certificate of Vaccination or Prophylaxis, created by the World Health Organization (WHO). WHO’s Yellow Card has certified vaccinations for cholera, plague, and typhoid, among other infections.

There is certainly precedent for a COVID-19 vaccination passport certifying that the holder can travel, study, play, and work without compromising personal or public health. Among newly proposed COVID-19 passport schemes are the WHO’s Smart Vaccination Certificate, Israel’s “green passport,” the European Union’s proposed Digital Green Pass, and the Africa Centres for Disease Control and Prevention’s “My COVID Pass.” Read More

CHILLING: California Police Reform Bill May Ban Christians From Law Enforcement

Written on . Posted in PT World Order.

PJ Media: Police officers have a duty to protect all citizens, regardless of race, religion, sexual orientation, or any other identity. Governments have an interest in preventing violent criminals and members of the Ku Klux Klan from joining police forces. Yet a new bill supposedly aimed at preventing gang members from joining law enforcement could prevent conservative Christians from taking the blue or result in their firing.

“A ruler who lacks understanding is a cruel oppressor, but he who hates unjust gain will prolong his days.” Proverbs 28:16 ESV

California Assembly Bill 655 would require police departments to investigate whether not potential cops had “engaged in membership in a hate group, participation in hate group activities, or public expressions of hate.” It would make such activities “grounds for termination.”

When Americans think of a “hate group,” many minds would conjure up a domestic terrorist group motivated by racial animus like the Ku Klux Klan. Yet some transgender activists and organizations like the Southern Poverty Law Center (SPLC) use the term “hate group” as an epithet to demonize their political and ideological opposition. The SPLC has become notorious for branding mainstream conservative and Christian groups as “hate groups” because they advocate against same-sex marriage or transgender activism.

Assembly Member Ash Kalra, the author of A.B. 655, told PJ Media that he does not intend his bill to “curtail freedom of religious views or political affiliations — conservative or otherwise.” He acknowledged that the bill’s “definitions are a work in progress.” If so, he should seriously reconsider the definition of “hate group.”

A.B. 655 defines a “hate group” as “an organization that, based upon its official statements or principles, the statements of its leaders, or its activities, supports, advocates for, or practices the denial of constitutional rights of, the genocide of, or violence towards, any group of persons based upon race, ethnicity, nationality, religion, gender, gender identity, sexual orientation, or disability.

History | Alliance Defending Freedom

 

That definition seems reasonable, but it can easily encompass mainstream conservative Christian organizations like Alliance Defending Freedom (ADF). Read More

Jared Kushner’s curious change of heart

Written on . Posted in PT Middle East.

JNS News: With the Biden administration having re-empowered Palestinian aggressors against Israel, Kushner has shown that he doesn’t grasp the significance of what he helped achieve with the Abraham Accords.

“The Lord will cause your enemies who rise against you to be defeated before you. They shall come out against you one way and flee before you seven ways.” Dent. 28:7

Jared Kushner, the son-in-law of President Donald Trump, was a senior foreign-policy adviser in the Trump administration. Now an op-ed by Kushner published in The Wall Street Journal has caused jaws to drop.

Kushner was a key mover behind the Abraham Accords between Israel and the Gulf States. This agreement, brokered by Trump, was the most significant move towards peace in the Middle East for the best part of a century.

In parallel, Trump’s U.S. withdrawal in May 2018 from the 2015 Iran nuclear deal, coupled with the reimposition of sanctions and more severe ones later added, was gradually bringing the fanatical and genocidal Iranian regime to its knees.

In parallel, Trump’s U.S. withdrawal in May 2018 from the 2015 Iran nuclear deal, coupled with the reimposition of sanctions and more severe ones later added, was gradually bringing the fanatical and genocidal Iranian regime to its knees.

What Is the Iran Nuclear Deal? | Council on Foreign Relations

On Iran, the Biden administration has declared its intention to rejoin the nuclear deal, the Joint Comprehensive Plan of Action. This effectively gave a green light to an Iranian nuclear bomb with only a few years’ delay. It also funneled billions of dollars into Iran’s coffers, enabling it to ramp up its regional power grab, and pursue terrorism and wars by proxy in Lebanon, Gaza, Iraq and Yemen.

Restarting this deal would be a disaster. Yet Kushner’s article was a paean of praise to Biden for his approach. Read More

The bond market rebels as it adjusts to the Federal Reserve’s inflation policy

Written on . Posted in PT Global Economy.

CNBC:

  • The bond market had a wild ride on Thursday, reacting to the Fed’s willingness to permit the economy and inflation to run hot as the job market recovers.
  • Strategists say that the market had initially responded to the Fed’s dovishness and forecast for no rate hikes through 2023.
  • By Thursday morning, rising inflation was the top concern. The bond market reacted dramatically to the Fed’s policy to allow it to run above its 2% target.

Chairman of the Federal Reserve Jerome Powell testifies during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on September 24, 2020, in Washington, DC.

Biden ‘announces’ it’s ‘President Harris’

Written on . Posted in Election 2020, End Times, President Joe Biden.

WND: President Biden, providing an update Thursday about the fight against the coronavirus, announced there is a “President Harris.”

“When President Harris and I took a virtual tour of a vaccination center in Arizona not long ago, one of the nurses on that tour injecting people, giving vaccinations, said that each shot was like administering a dose of hope, a dose of hope,” he said. “That’s how she phrased it.”

The Red State blog called it an “absolute cringe” moment but noted that on at least three occasions last year, either Biden or Harris mistakenly referred to the then-senator as the next president.

https://twitter.com/i/status/1372641119222239233

President Kamala Harris

China Rebukes Biden’s Foreign Policy Team; Cites ‘Black Lives Matter’ on U.S. Human Rights Abuses

Written on . Posted in PT World Order.

Breitbart: Chinese diplomat Yang Jiechi rebuked U.S. Secretary of State Tony Blinken and National Security Advisor Jake Sullivan during a meeting in Anchorage, Alaska, on Thursday, citing the Black Lives Matter movement on U.S. human rights abuses.

The summit was the first bilateral meeting between the two countries under President Joe Biden, who has traditionally been soft on Beijing, and has struggled to balance a desire to break with Trump’s tough policies with the need for a strong stance.

He also claimed that the U.S. had “deep-seated” human rights problems:

China is firmly opposed to U.S. interference in China’s internal affairs … On human rights, we hope the United States will do better on human rights. China has made steady progress in human rights, and the fact is that there are many problems within the United States regarding human rights, which is admitted by the U.S. itself as well. … The challenges facing the United States in human rights are deep-seated. They did not just emerge over the past four years, such as “Black Lives Matter.” It did not come up only recently.

Read More